Studio Investment Management LLC Has $3.27 Million Stock Position in Illinois Tool Works Inc. $ITW

Studio Investment Management LLC lowered its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 1.0% in the second quarter, HoldingsChannel reports. The fund owned 13,145 shares of the industrial products company’s stock after selling 129 shares during the period. Studio Investment Management LLC’s holdings in Illinois Tool Works were worth $3,270,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of ITW. Frazier Financial Advisors LLC acquired a new position in Illinois Tool Works during the 2nd quarter worth approximately $25,000. von Borstel & Associates Inc. bought a new stake in shares of Illinois Tool Works during the 1st quarter worth approximately $26,000. SOA Wealth Advisors LLC. raised its stake in shares of Illinois Tool Works by 90.9% during the 2nd quarter. SOA Wealth Advisors LLC. now owns 105 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 50 shares in the last quarter. Saudi Central Bank bought a new stake in shares of Illinois Tool Works during the 1st quarter worth approximately $29,000. Finally, 1248 Management LLC bought a new stake in shares of Illinois Tool Works during the 1st quarter worth approximately $30,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Insider Activity at Illinois Tool Works

In other news, CAO Randall J. Scheuneman sold 6,802 shares of Illinois Tool Works stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $265.08, for a total transaction of $1,803,074.16. Following the sale, the chief accounting officer directly owned 10,314 shares of the company’s stock, valued at approximately $2,734,035.12. This trade represents a 39.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.88% of the company’s stock.

Illinois Tool Works Stock Up 1.9%

ITW stock opened at $257.17 on Wednesday. The company has a market cap of $74.96 billion, a PE ratio of 22.54, a price-to-earnings-growth ratio of 5.58 and a beta of 1.10. The business has a 50-day simple moving average of $260.00 and a 200 day simple moving average of $251.17. Illinois Tool Works Inc. has a 52 week low of $214.66 and a 52 week high of $279.13. The company has a quick ratio of 1.15, a current ratio of 1.59 and a debt-to-equity ratio of 2.40.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.56 by $0.02. Illinois Tool Works had a return on equity of 90.89% and a net margin of 21.31%.The firm had revenue of $4.05 billion for the quarter, compared to analysts’ expectations of $4.01 billion. During the same quarter in the previous year, the business posted $2.54 earnings per share. The business’s revenue for the quarter was up .6% on a year-over-year basis. Illinois Tool Works has set its FY 2025 guidance at 10.350-10.550 EPS. Sell-side analysts anticipate that Illinois Tool Works Inc. will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th were paid a dividend of $1.61 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.50. This represents a $6.44 dividend on an annualized basis and a dividend yield of 2.5%. Illinois Tool Works’s payout ratio is 56.44%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Citigroup upped their price objective on Illinois Tool Works from $254.00 to $265.00 and gave the stock a “neutral” rating in a research note on Monday, July 14th. Truist Financial upped their price objective on Illinois Tool Works from $283.00 to $298.00 and gave the stock a “hold” rating in a research note on Wednesday, October 8th. Evercore ISI set a $265.00 price objective on Illinois Tool Works and gave the stock an “underperform” rating in a research note on Tuesday, August 19th. Wells Fargo & Company increased their price target on Illinois Tool Works from $235.00 to $250.00 and gave the company an “underweight” rating in a research note on Thursday, July 31st. Finally, Stifel Nicolaus increased their price target on Illinois Tool Works from $255.00 to $261.00 and gave the company a “hold” rating in a research note on Thursday, July 31st. Two analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $262.83.

About Illinois Tool Works

Illinois Tool Works Inc manufactures and sells industrial products and equipment in the United States and internationally. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products.